To Use or Not To Use (Tax Credit that is)

by Mark Buford on March 2, 2010

in Financing/Mortgage

Are You Smarter NOT to use the Tax Credit?

With the first time home buyer Federal tax credit set to expire April 30, 2010 (Offer has to be accepted by then), it seems obvious to rush out an make an offer. Not so fast. The Wall Street Journal is givng an alternative to contempleate. In that article, the notion is: People are in a frenzy to buy real estate before the deadline for teh $8000 tax credit, though the resulting competition is driving the home prices up more then $8000 and fall once the credit ends due to people loosing interest.

No Answer

This topic is being debated by people in the Zillow.com blog, which comes down to no definitive answer. My 2 cents, if the price is indeed gone up more than $8000 and will drop by at least that amount after April 30, then wait.

How can I get an answer?

You never know for sure, you can contact me and I have as good as can get information to give sales trends for the last few months and determine if there has been a corresponding rise in home prices with the initiation of the tax credit and if what the trend would be after April 30 if there was no sudden rise. Email me, mark@markburford.com, or if you just want to know what is out there for sale, click here: Homes for Sale in the South Bay Area

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Post by Mark Buford

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